Bitcoin Miner MARA Revenue Grows in Q4 2024 Due to Rise in Bitcoin Prices: Report

MARA Holdings reported its Q4 2024 financial results on Wednesday, revealing a 37% year-over-year revenue increase to $214.4 million, driven by Bitcoin’s price appreciation.

For the full year, annual revenue increased 69% to $656.4 million, reflecting Bitcoin’s price rally throughout the year.

The Bitcoin mining firm also earned $119.9 million by capitalizing on market gains.

Bitcoin Miner MARA Reports $528.3 Million Net Income for 2024

MARA Holdings' Q4 2024 Shareholder Letter reported a net income of $528.3 million, marking a 248% year-over-year increase, attributed to business expansion and favorable market conditions.

The firm also saw a revenue surge, reaching $214.4 million in Q4 2024, up from $156.8 million in Q4 2023, thanks to a 132% rise in the average price of Bitcoin mined.

MARA's earnings before interest, taxes, depreciation, and amortization (EBITDA) climbed 207% year-over-year to $794.4 million.

MARA mined 2,492 BTC in Q4 2024, a 25% increase in Bitcoin blocks won, reaching 703 blocks.

Under its updated treasury policy, MARA retained all mined BTC and purchased an additional 14,574 Bitcoin, financed through cash reserves and proceeds from zero-coupon convertible senior notes.

This move strengthened its Bitcoin reserves, bringing total holdings—including loaned and collateralized BTC—to 44,893 by the end of 2024.

This placed MARA as the second-largest corporate Bitcoin holder, following MicroStrategy, which holds 499,096 BTC.

MARA’s Future: Scaling Hashrate and Entering AI Infrastructure

Beyond financial growth, MARA increased its energized hashrate to 53.2 EH/s in Q4 2024, up 115% from the prior year.

This expansion was driven by a 300% increase in energy capacity and the establishment of seven Bitcoin mining facilities.

Additionally, the firm launched 25-megawatt micro data center projects in Texas and North Dakota to reduce reliance on grid power.

MARA's ambitions extend beyond Bitcoin mining. The company emphasized that long-term opportunities often emerge in later adoption phases, allowing firms to capitalize on refined market strategies.

By utilizing its technologies, MARA looks to support innovation while providing essential tools for energy management, load balancing, and infrastructure deployment.

Can the U.S. Fulfill President Trump's Vision of Domestic Bitcoin Mining?

During his presidential campaign, Donald Trump advocated for all remaining Bitcoin to be mined within the United States.

Trump's pro-crypto stance gained traction among his supporters during his presidential campaign.

Since taking office on January 20, he has now served 38 days and has already taken steps to reshape the regulatory landscape for digital assets.